Jenny borrowed $500 for five years at 4 percent interest, compound annually. What is the total amount she will have paid when sh
2 answers:
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Using the binomial distribution, the probabilities are given as follows:
a) 0.4159 = 41.59%.
b) 0.5610 = 56.10%.
c) 0.8549 = 85.49%.
<h3>What is the binomial distribution formula?</h3>The formula is:
The parameters are:
- x is the number of successes.
- n is the number of trials.
- p is the probability of a success on a single trial.
For this problem, the values of the parameters are:
n = 3, p = 0.76.
Item a:
The probability is P(X = 2), hence:
Item b:
The probability is P(X < 3), hence:
P(X < 3) = 1 - P(X = 3)
In which:
Then:
P(X < 3) = 1 - P(X = 3) = 1 - 0.4390 = 0.5610 = 56.10%.
Item c:
The probability is:
More can be learned about the binomial distribution at brainly.com/question/24863377
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